@Bridgette Smith Hi Bridgette, everyone has there own numbers I'm sure but I look for $200-$250+ cash flow monthly, a house that will have above avg. appreciation (a bonus if your exit strategy for buy and hold properties is to sell after 5-7 years).

I didn't do any rehab, and just as a bonus, the property value in one year has gone up quite a bit.

The market is Phoenix AZ.The best way is to attend a local real estate networking event and see who the big investors are using.There are some state specific knowledge that the CPA should have based on where you live and where you invest.Does the state adopt federal guidelines when it comes to bonus depreciationAre there any state specific credits?

We wrote off entire profit by doing bonus depreciation.

Anyone know about the bonus mentioned in the July 2020 email (see below)?

I would not factor the tax benefits and appreciation from acquiring the property because I would look at them just as a bonus. 

Perhaps you're thinking of bonus depreciation which is still 100% this year. 

Congrats - starting small and having a learning experience is the way to go, nice profits/return a bonus!

Bonus question:  If I do the bare minimum to get the property habitable and list it for rent, will that technically count as "putting it into service" so that I can then do some additional "qualified improvement property/personal property?" 

Ive heard of the concept of bonus depreciation and cost segregation and was wondering if anyone can elaborate more on this.